ABSTRACT
This chapter provides a summary of the history of accounting for groups in Luxembourg and of the current requirements following the implementation of the Seventh Company Law Directive of the EC. The next section gives an outline of the accounting background, and this is followed by a concise history of the development of group accounting in Luxembourg. An explanation is given of when consolidated financial statements are required and finally the mechanics of their preparation are described. The legal provisions governing consolidated financial statements are derived exclusively from the Seventh Directive and the last two sections have therefore deliberately been kept brief.
